BBA knows what buyers are looking for and why some businesses sell and others don’t.
Our expert sales system ensures your business is seen the right way by the right buyers at the right time. We prepare your business for sale, attract genuine buyers, guide you through the sales process and sell your business at the highest price, whilst saving you thousands in brokers commission!!
For more information, market insights or general advice get in touch with our friendly team today.
As a business buyers advocacy firm we know what buyers are looking for and why some businesses sell and others don’t. Genuine buyers will make decisions based on the information available. There are thousands of businesses for sale at any one time and the challenge when selling your business is to ensure your business is seen. To successfully sell a business it must be presented the right way to the right buyers and be ready for sale.
Selling a business is about timing. Many good businesses for sale go stale over time having not been seen or have been overlooked by genuine buyers due to poor marketing or lack of current information available.
When we search businesses for sale for our clients, if a business is not marketed correctly, does not have the required information available or there are delays in receiving information, then it’s most likely we will not look any further at that business. Time is important and we look for genuine business opportunities ready for sale.
By helping a seller prepare their business for sale, we are directly helping buyers. By ensuring sellers are ready to market their business means a buyer's time is not wasted and deals can be done. Genuine buyers for ready sellers. When selling a business BBA ensures your business is prepared accurately and presented correctly to genuine buyers.
At BBA we always felt that the commission a Business Broker charged to sell a business had a significant impact on what a seller realised on a sale. Whilst marketing a business is an inherent cost, the typical 8% commission on the sale price in addition to advertising was excessive.
On a $500,000 sale, business brokers may charge commission exceeding $40,000 + GST. This commission comes straight off the sale price.
You don’t need to pay a huge commission to sell your business.
There are no lock-in contracts. Reap the financial benefits of your hard work and let BBA find you genuine buyers and sell your business.
IMPORTANT – Don’t lock yourself into a six month exclusive contract with a business broker and don’t pay 8% of the sale price in commission.Find out what we do for you - Contact BBA
When selling a business BBA will need to get a good understanding of your business and how it can be presented to maximise buyer enquiry. Where possible we would like to meet with the seller prior to preparing any documentation to make sure the sale process is clearly outlined.
BBA will prepare all documentation in the form of a comprehensive Business Profile/Information Memorandum that will be required for a genuine buyer to assess the business. The profile will include all facets of the business including but not limited to financials, company background, staffing, premises, marketing and growth potential
As buyers advocates we do not investigate businesses for sale for our clients unless a current and informative business profile is provided on request. When selling a business it is vital that all the relevant business information is ready and presented in a professional manner.
To attract a genuine buyer you need to be genuine with the information provided.
If buyers or their advisers detect that relevant information has not been disclosed, deliberately not provided or withheld without reason, then in many cases they will not investigate the business any further.
When you market your business for sale, BBA knows what information must be provided and what should be provided to encourage a buyer and/or their adviser to investigate further.
BBA provides a business search service to buyers through a team of expert business buyer advocates and as such know exactly what buyers are looking for. When selling a business we know what advertising works and what doesn’t. We know what type of content attracts high enquiries from buyers and why other advertising generates few. Expert copywriting, proper presentation and tailored marketing initiatives are vital to the sales campaign and critical when you sell a business
When you sell your business with BBA we will organise your personalised sales campaign including expert copywriting, tailored advertising, price advice, comprehensive information memorandum/business profile, proper presentation, upload your business on various prominent business for sale websites and /or social media and sourcing genuine buyers.
BBA will monitor the performance of the business for sale advertising to ensure that it is reaching genuine buyers whilst providing the information needed to generate interest and follow up.
As Business Buyers Advocates, BBA has a database of business buyers looking at various opportunities at any one time . Whilst your business will be advertised to the general public it will also be matched to our buyer database.
BBA’s buyer clients are genuine buyers that have paid BBA to search for specific businesses. If BBA matches a current BBA buyer client with your business, then BBA will not represent the buyer in negotiations , we will be representing the seller only.
Having BBA as a third party assisting both the seller and buyer is a non-confrontational approach to finalising a deal that will benefit both parties. A win/win approach is how deals should be negotiated and finalised.
When you sell your business with BBA we will be the contact for all enquiry leads. Having BBA following up on all leads enables you to concentrate on what you do best – operating your business.
Business for sale advertising attracts many enquiries. Enquiries come from all types, some which are sincere and others purely to gather information. The latter may be competitors wanting to find out details of the business, business brokers looking for listings or time wasters with no intent to buy.
BBA will take all leads and qualify all enquiries. Only those enquiries that are determined as sincere and have the capacity to buy will be generated onto a buyers list. By qualifying leads we are dealing with serious enquiries for your business.
The challenge is to transfer qualified leads into genuine buyers. Information must be transferred to the buyer so they can get an understanding of the business operations and financial performance.
To be given this information all potential qualified buyers must sign a BBA Confidentiality Agreement. Only on receipt of a signed Confidentiality Agreement, will documentation in the form of a Business Profile/Information Memorandum be released. BBA will coordinate this process and answer any direct queries and follow up with requests for further information.
The intention is to have genuine buyers be in a position to make an offer to purchase.
With a genuine buyer, BBA will arrange a meeting between you and the buyer. Depending on the business and location, the meeting may be onsite or offsite.
The purpose of this meeting is to discuss the business in more detail and answer any queries that may not have been previously covered or need further clarification.
This meeting is also an opportunity for you to feel comfortable about the buyer and their ability to operate the business.
Some business sellers are very concerned about existing staff and clients and want to ensure the new owners are of a similar mindset in valuing staff and client relationships.
In many cases business sellers would like BBA to act as a facilitator for both parties to assist with coming to an agreement on the price and terms of a sale.
As an independent third party, BBA can facilitate deals resulting in a win/win for both parties. That’s how deals should be done when selling a business.
The position BBA takes in facilitating the meeting is in a non-confrontational manner as it is not representing either party but both. This approach encourages deals to be done as BBA takes the role of a facilitator.
BBA will prepare the Heads of Agreement/Terms Sheet based on the final offer to purchase. Once signed by both parties the agreement will form the basis of the contract which will include the agreed price, terms and conditions of sale.
The signed Heads of Agreement will be forwarded to solicitors of both parties with a deposit to be held in the trust account of the vendor’s solicitor.
There will be various terms and conditions to be met up till settlement. BBA will assist you throughout the process and work closely with your solicitor and accountant as required.
When you sell a business with BBA we will assist you throughout the sale process and guide you through the settlement.